How to pass loan entery

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 September 2015 Dear Respected Sir
our Company my director taking home loan,this home loan entry showing comp.books of account

Amol S Joglekar

Amol S Joglekar (Expert)
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09 September 2015 Home Loan is director's personal loan. No entry is required to be passed in the books of accounts of the company.
If the EMI is paid by the company, then
DEBIT Director's account
Credit Bank/Cash as the case may be.

The Director's account, in due course of time, can get adjusted to either his remuneration or salary or sitting fees as the case may be

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